Possible solutions to omitted variable bias, when the omitted variable is not observed, include the following with the exception of
A) panel data estimation.
B) nonlinear least squares estimation.
C) use of instrumental variables regressions.
D) use of randomized controlled experiments.
Answer: B) nonlinear least squares estimation.
Economics
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The above figure shows an individual's demand curve for time per month spent telecommunicating while driving (talking on the car phone.) A car phone is useless except for talking with somebody who is not in the car
If calls are priced at ten cents per minute, what is the consumer surplus derived from talking? What is the most this person would pay for the car phone? Explain.
Economics
Entry drives economic profits to zero
Indicate whether the statement is true or false
Economics